Press release
Low Voltage Switchgear Market Leading Key Players Analysis: Eaton Corporation Plc, General Electric , Mitsubishi Motors Corporation , Hitachi, Ltd. , Schneider Electric SE , Siemens AG
The global low voltage switchgear market is projected to witness a rapid growth during the forecast period. The emerging trend, that have a direct impact on the dynamics of the low voltage switchgear industry, is the emergence of smart grids. A smart grid system delivers a sustainable, secure, and economical electricity supply by logically integrating the actions of all users whether they are consumers, generators, or those capable of both in a well-organized manner.
The global low voltage switchgear market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific accounts for a major share as compared to other regions in the low voltage switchgear market. The U.S. low voltage switchgear market size is set to reach over an annual installation of 1 million units by 2024. Governing regulation towards the up gradation and retrofitting of aging distribution networks will increase the product penetration. Adoption of cost effective units along with the deployment of smart LV control units will boost a competitive business scenario.
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Industry Top Key Players:-
• Siemens AG
• Fuji Electric Co., Ltd.
• Hubbell Incorporated
• Rittal
• ABB
• Eaton Corporation Plc.
• General Electric
• Mitsubishi Motors Corporation
• Hitachi, Ltd.
• Schneider Electric SE
Low Voltage Switchgear Market Segmentation:-
The global low voltage switchgear market is segmented by protection, product, rated current, rated voltage, installation and by application. By protection segment the market is sub-segmented into circuit breaker and fuse. The circuit breaker is further segmented into ACB, MCCB, MCB, MSP and MPCB. The fuse is sub-segmented into Fuse-switch disconnector, Switch disconnector with fuse and others. By product the market is segmented into fixed mounting, plug-in and withdraw able. The rated current segmented into ≤ 1000 Ampere, 1001 to 5000 Ampere and > 5000 Ampere. The rated voltage consists of ≤ 250 Volt, 251 to 750 Volt and > 750 Volt. The installation segment consists of AC and DC. The application segment consists of substations, distribution, power factor correction, sub-distribution and motor control.
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Regional Analysis:-
The global color detection market is studied for Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific market accounts for the largest share in the low voltage switchgear market. It is observed that China low voltage switchgear market size is about to show significant growth towards the clean energy deployments. The nation has countersigned a substantial growth towards renewable adoption pertaining to its ambitious clean energy targets. Thereby, continuous adoption of sustainable energy technologies along with large scale energy demand from manufacturing plants will positively influence the product deployment.
Intended Audience:-
• Technology Investors
• Original Equipment Manufacturers
• Industrial end-users
• Government bodies
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